Smart Global Holdings Inc’s (SGH) Lock-Up Period To Expire on November 20th

Smart Global Holdings’ (NASDAQ:SGH) lock-up period is set to expire on Monday, November 20th. Smart Global Holdings had issued 5,300,000 shares in its public offering on May 24th. The total size of the offering was $58,300,000 based on an initial share price of $11.00. After the expiration of Smart Global Holdings’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

A number of brokerages recently weighed in on SGH. Needham & Company LLC restated a “buy” rating on shares of Smart Global Holdings in a research report on Wednesday, October 11th. Roth Capital increased their price objective on shares of Smart Global Holdings from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, October 11th. Deutsche Bank AG restated a “buy” rating and set a $35.00 price objective on shares of Smart Global Holdings in a research report on Tuesday, November 7th. Citigroup Inc. increased their price objective on shares of Smart Global Holdings to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Smart Global Holdings from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, October 5th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Smart Global Holdings presently has an average rating of “Buy” and a consensus target price of $34.31.

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Shares of Smart Global Holdings (NASDAQ:SGH) opened at $28.98 on Wednesday. Smart Global Holdings has a twelve month low of $11.50 and a twelve month high of $38.24.

Smart Global Holdings (NASDAQ:SGH) last announced its earnings results on Thursday, September 28th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.15. Smart Global Holdings had a negative net margin of 4.58% and a negative return on equity of 74.60%. The business had revenue of $223.00 million during the quarter, compared to analysts’ expectations of $210.54 million. The firm’s quarterly revenue was up 52.5% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in the business. Spark Investment Management LLC purchased a new stake in shares of Smart Global Holdings in the second quarter worth $184,000. Canada Pension Plan Investment Board purchased a new stake in shares of Smart Global Holdings in the second quarter worth $10,231,000. Symphony Asset Management LLC purchased a new stake in shares of Smart Global Holdings in the second quarter worth $1,286,000. Ameriprise Financial Inc. purchased a new stake in shares of Smart Global Holdings in the second quarter worth $7,126,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Smart Global Holdings in the second quarter worth $324,000.

About Smart Global Holdings

Smart Global Holdings Inc is a holding company. The Company through its subsidiaries provides specialty memory solutions. The Company manufactures memory for desktops, notebooks, servers and mobile memory for smartphones. The Company also serves original equipment manufacturer (OEM), customers to develop memory solutions.

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